Form 4: Viavi Solutions SVP Gary W. Staley Reports Stock Transactions
SEC Form 4 Filing
Gary W. Staley, SVP Global Sales at Viavi Solutions Inc., reports the vesting of market stock units and subsequent tax withholding, resulting in adjustments to his beneficial ownership of common stock.
Summary
- On September 24, 2024, Gary W. Staley, SVP Global Sales at Viavi Solutions Inc., engaged in transactions involving common stock and market stock units (MSUs).
- These transactions included the vesting of MSUs granted on August 28, 2021, August 28, 2022, and August 28, 2023.
- The vesting of these MSUs resulted in the acquisition of 5,041, 1,786, and 6,313 shares of common stock, respectively.
- To cover tax withholding obligations related to the vesting of these MSUs, the company retained 1,984 shares at $8.73 and 703 shares at $8.73 and 2,485 shares at $8.73.
- Following these transactions, Staley's directly held beneficial ownership of common stock is 139,087 shares.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Positives
- The vesting of market stock units indicates that performance targets related to total stockholder return were met to some extent.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and their impact on stock ownership.
Comparison to Industry Standards
- Executive compensation packages often include stock and option awards to align management's interests with those of shareholders.
- The vesting schedules and performance metrics associated with these awards vary widely across companies and industries.
- The use of market-leveraged stock units is a common practice to incentivize executives to improve shareholder value.
Stakeholder Impact
- The transactions have a minor impact on the overall shareholding structure of the company.
- The vesting of MSUs reflects the company's performance relative to its total stockholder return.
Key Dates
| Date | Description |
|---|---|
| 2021-08-28 | Date of grant for market-leveraged stock units, 3rd tranche vested on 09/24/2024. |
| 2022-08-28 | Date of grant for market-leveraged stock units, 2nd tranche vested on 09/24/2024. |
| 2023-08-28 | Date of grant for market-leveraged stock units, 1st tranche vested on 09/24/2024. |
| 2024-09-24 | Date of transactions: vesting of market stock units and tax withholding. |
| 2024-09-26 | Date of signature for the Form 4 filing. |
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